§ Major ENTWISTLEasked the Lord Privy Seal whether there is any connection between the manufacture of dyes and the manufacture of explosives and poison gas; if so, what is the connection; and whether it has influenced the Government to introduce the Dyestuffs (Import Regulation) Bill?
§ Sir P. LLOYD-GREAMEI have been asked to answer this question. The policy of His Majesty's Government is based on the importance of the dye-making industry both in peace and in war.
§ Major ENTWISTLEasked the Chancellor of the Exchequer what was the share capital in Messrs. Levinstein and British Dyes, Limited, at the date on which the British Dyes Corporation was formed; on what basis was the share capital in each 1939W company exchanged for share capital in the corporation; and what are the prices quoted for the shares of the British Dyes Corporation at the latest available date?
§ Sir P. LLOYD-GREAMEI have been asked to answer this question. The share capital of Levinstein, Limited, at the date in question was £90,000, divided into 3,000 preference shares of £10 each, and 6,000 ordinary shares of £10 each. The share capital of British Dyes, Limited, was £969,574 in shares of £1 each. The preference shares in Levinstein, Limited, were exchanged for preference shares in the British Dyestuffs Corporation, Limited, on a par basis. The ordinary shares in Levinstein, Limited, and British Dyes, Limited, were exchanged for preference and preferred ordinary shares in the British Dyestuffs Corporation, Limited, on the basis of a valuation of tangible assets in excess of liabilities and deferred ordinary shares issued to an agreed amount in respect of goodwill, patents, and other rights. On the 6th December the preference and ordinary shares were quoted at 12s. 6d. each.